Elmhurst Real Estate Market Conditions – April 2018

Elmhurst Real Estate Market Update

The Elmhurst Real Estate Market is still pretty strong in April despite the lack of inventory. Homes are selling fairly quick. With the limited inventory buyers need to act quickly when a new listing comes on the market.

Elmhurst Market Times

Single family home market times increased in April. Homes were on the market for an average of 98 days compared to 84 days last year at the same time, more than a 16% increase. The average time a condo/townhome stayed on the market was 43 days compared to last year when it was 45 days, more than an 4% decrease.

Elmhurst Months Supply

Single family home inventories in Elmhurst had 4 months of supply at the end of April, more than a 11% decrease compared to last year at this time when the months supply was 4.5 months. The supply of condos and townhomes increased 100% in April with 4 months supply this year compared to last year when the months supply was 2.

Elmhurst Homes For Sale

At the end of April there were 206 single family homes for sale in Elmhurst, a 9.3% decrease from last April when there were 227 homes for sale. The number of condos and townhomes for sale increased 100% in April with 28 for sale this year compared to last year when there were 14 for sale.

Elmhurst New Listings

New listings saw an increase during April with 140 single family homes newly listed compared to the 129 listed in April 2017, an increase of 8.5%. Condo and townhome new listings increased more than 214% with 22 listed for sale this April compared to 7 the same time last year.

Elmhurst Real Estate Closings

The number of single family home closed sales decreased more than 4% with 63 closings this April compared to 66 last year. Condo and townhome closings had a 42.9% decrease in closed sales with only 4 closings this year compared to 7 last April.